Wednesday, July 22, 2015

Economic News , Data And Views ( July 22 , 2015 ) Ukraine in Focus ( Right Sector Vows New Revolution As They Gather On Maidan , Debt Talks Still A Work In Progress , The War Still Continues In the East Regions ) ..... EZ News - Non Greece ( Slovenia Deflation continues without Abatement , Finland - Consumer Confidence / Housing / Industrial Data show Economy Still In Downward Trend , France and Italy Data Of The day ) UK In Focus ( Data Of The Day , Bank Of England Keeps Interest Rates Unchanged By 9-0 Vote , Data of the Day ) ...... Greece Updates ( Political , Economic , Creditor Talks / Debt Restructuring Items of the Day ) ....... Gold News Of the Day .....


Evening Wrap.....




Official result : 298 VOTED ; YES 230; NO 63; ABSTAINED 5. Compare with last has improved position.






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If Left Platform were hoping to build on last week's rebellion, it didn't happen.






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Prior actions legislation passed. 31 Syriza MPs voted against government, same as last time, but no ministers and fewer abstained.







Varoufakis votes *with* the government on this occasion.









In last 30 mins, we've heard about proportional voting, CDS & submarines among other assorted items. Remind me what we're voting on







parliamentary maths re 2nd draft bill with 2 prior actions 977 pages * 2 mins/page= 1,954 mins= 32.6 hours





peaceful protests in square end with sudden outburst of violence as young protestors hurl rocks /petrol bombs at police






Morning Tweets......


Ukraine.....





Ukraine president’s coalition in parliament says reform plan is impossible to implement









Ukraine's Right Sector Calls For Referendum To Impeach Government




ultra-nationalists gather on , announce ‘new revolution’














Ukraine’s Right Sector starts organizing no-confidence referendum in Ukraine








Ukraine is not Argentina, nor Is it Greece. Steve Hadley and Bob Zoellick urge debt restructuring for Ukraine in









Ukraine borrows $205 mln on domestic market on eve of key debt payment ... who lends to Ukraine!!?







schoolchildren tell their stories of war through drawings via







Finland....







Finland - even consumer confidence has started to turn down again.











Finland building permits down 5.5% y-o-y in Feb-April period.









Finland just not participating in current Euro Area expansion, industrial output down 5.1% y-o-y in May.











Finland's economy continued its downward trend in May. Stats office estimate fall of 0.5% m-o-m and 1.2% y-o-y.







No sign of deflation abating in Slovenia. EU HICP down 0.9% y-o-y in June.








UK.....B of E




 



UK households signal bleakest financial outlook in a year. Index falls from 50.1 to 48.6






Markit Household Finance Index rose from June's six month low of 43.8 to 45.3








*BOE SAYS ALL MPC SAW SHRINKING SLACK, RISING DOMESTIC COSTS - probably the most hawkish statement in the minutes








BOE SAYS STAFF FORECAST 0.7% GDP GROWTH IN 2Q, 3Q






BOE SAYS A NUMBER OF POLICY MAKERS SEE RISING INFLATION RISKS






BANK OF ENGLAND INTEREST-RATE VOTE 9-0; APF VOTE 9-0







minutes: "For all members, the policy decision this month was clear cut"






Bank of England minutes show that MPC voted 9-0 to keep interest rates unchanged in July meeting





Italy....








Italy seizes mafia assets worth two billion euros







industry orders fall 2.5% m/m in May (+5.5% in April) - ISTAT




Greece, Germany, France and Italy's GDP growth since 1999







France.....












French industry morale rises from 100 in June to 102 in July, beating TR consensus of 100 - INSE







Mish's Global Economic Trend Analysis: Total Gridlock: 25,000 French Farmers Face Bankruptcy, Block Roads, via





Greece.....



? Never heard of that – Kremlin denies Greek money printing idea








The key issue is whether the party splinters further or if some who broke with Tsipras last week return to the fold








's Moscovici seeks permanent EFSM guarantees for non-Euro states. (BBG)










deal - next big debt payment due August 20.








Moscovici: I'm confident the second package of legislation will be adopted by Greek parliament tonight.








Why the fuss over Greek Justice Min objecting to bill on civil code? Tsipras has said he signed an agreement w lenders he doesn't believe in





Another week, another shipment of €900m for insolvent Greek banks, probably mostly bank notes:













Greece Says Transfer Abroad of Domestic Securities Suspended







Greek minister orders probe into hundreds of loans issued by ATEbank 'where business activity met criminal activity'.









As MPs brace for vote on more prior actions, Tsipras attacks critics (comments seen targeting Lafazanis, Varoufakis).






*GREECE RAISED TO CCC+ FROM CCC- BY S&P; OUTLOOK TO STABLE






ECB prepares for Greek return as banks remain in emergency








's risk premium over German Bunds on the rise again, now 1100.7bps, as not off the table.








Greece's economic troubles are set to continue this year, and possibly even get worse










Greek debt restructuring talks moving ahead ~U.S. Treasury official /via



















Greek business warn of closures as capital controls choke supplies /via







Delia Velculescu, ex-Cyprus, to head IMF Greek team. cld have chosen softer pic









How Greece can take charge of its own financial future:










| Parliamentary debate on 'prior actions II' bill to start soon at Committees level. Plenary debate in the evening.








Gold aka Global Universal collateral .....












Goldman sees dropping below $1,000 on Dollar. Bullion price falls <$1,100/oz.











price below $1100/oz. as investors flee Gold ETF's. Gold ETF holdings slump to lowest level since Mar2009.








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